MAS Establishes Global Finance & Technology Network GFTN, First Phase to Pilot Digital Assets, Tokenization and More

On October 30, the Monetary Authority of Singapore (MAS) announced the formation of the Global Finance & Technology Network (GFTN) to facilitate the development of Singapore's fintech ecosystem and to drive greater synergies and networking with the global fintech community, according to its official website.

Among the first phase of initiatives are the development of a regulatory sandbox framework, the establishment of cross-border payments linkages, piloting digital assets and tokenization, and facilitating the adoption of Artificial Intelligence (AI).The GFTN will collaborate with MAS to advance industry and policy dialogues in the areas of payments, asset tokenization, and AI/quantum.